Jump to main content.

Iowa Foundation For Microenterprise And Community Vitality

Location

Ames, IA

Project Name

Iowa Rural Equity Project

Program

Seed Fund Support

Award Amount

Federal Share

Non-Federal Share

$300,000.00

$300,000.00

The Iowa Rural Equity Project (IREP) is designed to create three new sources of equity capital targeted to support strategic rural ventures with potential to create jobs in multiple rural communities and rural areas. IREP assembles the relevant professional equity management experience, legal expertise, staff capacity, and associated industry networks for attracting capital and managing portfolios of emerging companies with innovations from multiple accelerator programs and business development networks that focus on ventures with the potential to enhance rural economic development. Focusing on agricultural and energy technologies, IREP will create three equity fund initiatives, including a Community Capital Network with a $4 million equity fund, a Rural Angel Investor Network with $20 million equity investment capacity, and a Charitable Equity Endowment of $6 million that authorizes up to $3 million in Program Related Investments for Strategic Rural Ventures. When fully deployed, the combined $30 million in capital capacity is expected to create or retain 300 direct jobs with average wages above rural county medians. More important economic outcomes are related to the new industries created by IREP and future opportunities for rural economic growth in rural communities as new industries expand and grow in multiple rural communities.

Office of Innovation and Entrepreneurship (OIE)

Build To Scale (B2S)
formerly Regional Innovation Strategies Program (RIS)

SPRINT Challenge

STEM Talent Challenge

Accelerate R2 Network Challenge

National Advisory Council on Innovation & Entrepreneurship (NACIE)

Resource Directory Disaster Recovery Annual Reports Stay Connected
(Subscribe to EDA's monthly e-newsletter)

Facebook icon Twitter icon LinkedIn icon YouTube icon